- The S&P 500 index reaches a new all-time high at 6,041 points.
- The S&P 500 reaches a new record during Black Friday and after Thanksgiving.
- NVIDIA, Tesla, QUALCOMM and Applied Materials lead the rise of the S&P 500.
The S&P 500 index closes the week setting a new historical record at 6,041 points. Even as much of the United States enjoys the extended Thanksgiving holiday, going Black Friday shopping this Friday, the country’s stock markets are posting widespread gains, with the Nasdaq 100 and the Composite gaining 0.26 % and 0.38%, respectively.
Stock markets gain momentum during Black Friday
Investors continue to be optimistic about the upcoming presidency of Donald Trump, who this week threatened to increase tariffs on products from Canada and Mexico, among other countries.
After a series of mixed economic data released in the week ending, with October core PCE inflation rising to 2.8% annually from 2.7% in September, bets on a Fed rate cut at the September meeting They are leaning towards a reduction of 25 basis points. The focus for the next few days will be on the US employment data, with Non-Farm Payrolls as the protagonist on Friday, December 6.
NVIDIA, Tesla, QUALCOMM and Applied Materils lead the way higher for the S&P 500
The S&P 500 index is gaining 0.41% so far this Friday, now trading above 6,039 points.
Among the companies leading the rise of the index is NVIDIA, which is currently growing 2.46% and Applied Materials, which is rising 2.43%. They are followed with significant increases by QUALCOMM Incorporated, which rises 2.28% and Tesla, which advances 2.18%.
S&P 500 Technical Analysis
The bullish trend continues to prevail in all time charts, now placing the area of 6,050 points as initial resistance, followed by 6,100 points.
In case of a pullback, initial support is at the previous resistance at 6,000 points. Below, the target is the 100-period moving average on the one-hour chart at 5,985.
S&P 500 daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.